CareRx's market value is the price at which a share of CareRx trades on a public exchange. It measures the collective expectations of CareRx investors about its performance. CareRx is trading at 1.40 as of the 4th of January 2025. This is a No Change since the beginning of the trading day. The stock's lowest day price was 1.4. With this module, you can estimate the performance of a buy and hold strategy of CareRx and determine expected loss or profit from investing in CareRx over a given investment horizon. Check out CareRx Correlation, CareRx Volatility and CareRx Alpha and Beta module to complement your research on CareRx.
Please note, there is a significant difference between CareRx's value and its price as these two are different measures arrived at by different means. Investors typically determine if CareRx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CareRx's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
CareRx 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to CareRx's pink sheet what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of CareRx.
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12/05/2024
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In 30 days
01/04/2025
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If you would invest 0.00 in CareRx on December 5, 2024 and sell it all today you would earn a total of 0.00 from holding CareRx or generate 0.0% return on investment in CareRx over 30 days. CareRx is related to or competes with SNDL, Shuttle Pharmaceuticals, Aurora Cannabis, Teva Pharma, and Elanco Animal. CareRx Corporation, together with its subsidiaries, provides specialty pharmacy services to seniors in Canada More
CareRx Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure CareRx's pink sheet current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess CareRx upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for CareRx's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CareRx's standard deviation. In reality, there are many statistical measures that can use CareRx historical prices to predict the future CareRx's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as CareRx. Your research has to be compared to or analyzed against CareRx's peers to derive any actionable benefits. When done correctly, CareRx's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in CareRx.
CareRx Backtested Returns
CareRx secures Sharpe Ratio (or Efficiency) of -0.0631, which signifies that the company had a -0.0631% return per unit of risk over the last 3 months. CareRx exposes eighteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CareRx's Mean Deviation of 0.8752, standard deviation of 2.56, and Risk Adjusted Performance of (0.04) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -1.31, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning CareRx are expected to decrease by larger amounts. On the other hand, during market turmoil, CareRx is expected to outperform it. At this point, CareRx has a negative expected return of -0.16%. Please make sure to confirm CareRx's potential upside, as well as the relationship between the rate of daily change and relative strength index , to decide if CareRx performance from the past will be repeated at some point in the near future.
Correlation Coefficient
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Spearman Rank Test
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Residual Average
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Price Variance
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CareRx lagged returns against current returns
Autocorrelation, which is CareRx pink sheet's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting CareRx's pink sheet expected returns. We can calculate the autocorrelation of CareRx returns to help us make a trade decision. For example, suppose you find that CareRx has exhibited high autocorrelation historically, and you observe that the pink sheet is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values
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CareRx regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If CareRx pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CareRx pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CareRx pink sheet over time.
Current vs Lagged Prices
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CareRx Lagged Returns
When evaluating CareRx's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CareRx pink sheet have on its future price. CareRx autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, CareRx autocorrelation shows the relationship between CareRx pink sheet current value and its past values and can show if there is a momentum factor associated with investing in CareRx.
Other Information on Investing in CareRx Pink Sheet
CareRx financial ratios help investors to determine whether CareRx Pink Sheet is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in CareRx with respect to the benefits of owning CareRx security.